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President Putin announced further measures to fight COVID-19 pandemic and its impact on the economy

11.05.2020

During a meeting with the Heads of the Regions and Members of the Government on the situation with COVID-19, Russian President Vladimir Putin announced the end of the non-working regime on 11 May 2020. Starting May 12, the stage of easing the regime of restrictions begins. However, the exit from restrictions will not be instantaneous.

All public events throughout the country are still banned. For people over 65 and those suffering from chronic illnesses, the restrictions will be maintained.

From May 12, wherever possible, the conditions for the restoration of the work of enterprises in basic industries shall be created. More particularly, shall be possibly resumed the work of enterprises in the construction, agriculture, communications, energy and mining sectors as well as other basic industries where there is no direct contact with consumers.

Starting June 1, a credit programme to support employment will be launched for all enterprises in the affected sectors and socially oriented NGOs. The rate will be preferential - 2%. 85% of the loan will be secured by state guarantees. If the company will maintain employment at the level of 90%, then the loan and interest on it will be written off completely. The loan repayment period is April 1, 2021.

Companies that have retained at least 90% of the state from April 1, will receive a direct subsidy for employee benefits for April and May.

Putin proposed that all tax payments other than VAT and second-quarter insurance premiums be written off for companies from affected industries.

Self-employed will be returned tax on income paid for 2019 and shall be provided tax capital of 1 minimum wage.